Hong Kong’s residential property segment is on the verge of a turnaround that could last between four and five years, with home prices likely to rise starting in the second half of the year, according to Morgan Stanley. The US investment bank said the first half of the year would end with prices down 2…
New World Development’s K11 Musea shopping mall, part of the company’s flagship Victoria Dockside development in Hong Kong’s Tsim Sha Tsui district. Paul Yeung/Bloomberg Shares of New World Development, controlled by Hong Kong’s billionaire Cheng family, dropped almost 6.5% on Monday after the debt-laden property developer deferred interest payments on several bonds, deepening investor concerns…
Southeast Asian companies like lender DBS Group Holdings and fast-food chain operator Jollibee and local education institutions are giving Hong Kong’s property market a much-needed boost, fanning hopes the worst of the investment slump may have passed. Southeast Asian firms and education firms each contributed around 22 per cent of the total HK$6.28 billion (US$809…
Sun Hung Kai Properties (SHKP) is launching another batch of flats in its Sierra Sea project in the New Territories following two consecutive sold-out weekends in one of Hong Kong’s largest residential projects in more than a quarter century. On Wednesday, Hong Kong’s largest developer will offer 150 flats in the 9,700-unit project in Shap…
Mike Cai Wensheng, the co-founder and chairman of Chinese selfie app Meitu, bought a 53,000 square foot commercial building in Hong Kong for HK$650 million (US$84 million), with plans to turn the property into an incubation hub for start-ups. “It is a personal investment and entrepreneurial initiative, and I plan to engage in more collaborations…
Negative equity cases in Hong Kong’s real-estate market hit a new high, according to official data released on Wednesday, as elevated interest rates continued to weigh on property prices. The number of homes whose value sank below what their owners were paying for their mortgages rose 6.1 per cent to 40,741 cases in the first…
Negative equity cases in Hong Kong’s real-estate market hit a new high, according to official data released on Wednesday, as elevated interest rates continued to weigh on property prices. The number of homes whose value sank below what their owners were paying for their mortgages rose 6.1 per cent to 40,741 cases in the first…
Hong Kong’s Tsim Sha Tsui district commanded the most expensive rental fees among the world’s retail markets last year, as luxury brands from Cartier and Dior to Tiffany kept their flagship stores running on the Kowloon peninsula, according to Savills. Prime retail rent in TST, as the area is called, was £17,132 (US$22,976) per square…
The trend of companies offering flexible working arrangements to retain their top talent, far from a pandemic-era fad, is now a permanent fixture of the office property market, according to International Workplace Group (IWG). In addition, global economic uncertainty was shaping office-space demand, driving companies away from being tied to traditional office leases, said Marc…
The trend of companies offering flexible working arrangements to retain their top talent, far from a pandemic-era fad, is now a permanent fixture of the office property market, according to International Workplace Group (IWG). In addition, global economic uncertainty was shaping office-space demand, driving companies away from being tied to traditional office leases, said Marc…